Budget, Financial Services, GDP, Latvia
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Budget deficit projected at 1% of GDP in 2015
BC, Riga, 15.10.2014.
Print version
Print versionThe budget deficit in 2015 is projected at 1% of gross domestic product (GDP), while national debt at 34.6% of GDP in Latvia, informs LETA.
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''The projected deficit is in accordance with our fiscal discipline limits. The fiscal projections also point out that it will be difficult to begin new spending measures or measures aimed at reducing revenue in next year's budget project, as corresponding compensation measures will need to be found to fund such new measures,'' Finance Minister Andris Vilks (Unity) pointed out in a statement.
The Cabinet of Ministers today approved the general budget plan for 2015.
The budget plan has taken into account the latest macro-economic forecasts. Budget revenue is expected at around 33% of GDP next year, while expenditures at 34% of GDP, the Finance Ministry informs.
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